Bitcoin’s fight against its key resistance zone has continued over the last 24 hours, while the BTC price momentum has also stayed firm, with traders and investors attempting a spike to $70,000.
Bitcoin has fixated on a narrow range, while other tokens showed similar trends over the previous day. The BTC price momentum is still strong, while the crypto market cap has held its support over $2.5 trillion. A minute crypto price analysis reveals stable sentiments among traders, which was reflected in token prices. The Bitcoin spot market is still in control of the crypto market.
From a liquidity perspective, the $66,000 and $72,000 levels have been crucial for BTC. This trend may continue going forward. Analysts have pointed towards BTC’s $100,000 price target as a ‘magnet.’ It is possible for BTC to breach the target but bulls would have to overcome the bearish action on the way.
ETH has been trading above $3,700 for several days. While its market cap has been robust at $450 billion, daily trading volumes have gone down in the last few days. Other tokens in the market witnessed mixed results recently, but there has been no major decline.
The entire crypto market is likely anticipating the Ether ETFs in June. This is the chief event that could sway the crypto market’s movements in either direction. As a result, speculators may have been increasing their long positions in multiple crypto tokens.
BTC/USD 1D price chart
Bitcoin is currently trading at around $68,800 on June 4, 2024, with BTC/USD trading lower by a margin of 0.36% in the last 24 hours. Bitcoin’s market cap was trading at around $ 1.36 trillion in the last 24 hours.
BTC/USD is trading higher than its 20-day EMA (66,605.20), as BTC’s 24-hour volume was at around $29.1 billion. The global crypto market cap decreased by around 0.78%, trading above $2.57 trillion. BTC’s year-to-date returns are at 63.51%
Join Millionero today for a seamless beginning to trading crypto!